As one of the world’s leading industrial and technology economies, South Korea continues to offer significant opportunities for Swedish companies. Strong capabilities in sectors such as semiconductors, batteries, defence, energy, life sciences, and advanced manufacturing make the market strategically important across multiple industries.
At the same time, companies continue to face a demanding operating environment. Regulatory complexity, local requirements, labour market constraints, and administrative processes remain key challenges affecting competitiveness and market entry.
Cooperation between Sweden and South Korea remains strong within sectors such as energy, automotive, industrial equipment, life sciences, digitalisation, and advanced technologies. South Korea’s continued investments in innovation, electrification, AI, semiconductors, and sustainability continue to create opportunities for Swedish companies offering high-value and sustainable solutions.
Competitiveness in South Korea is closely linked to partnerships, brand awareness, sales competence, and strong local commercial capabilities. The Swedish brand continues to be associated with innovation, quality, sustainability, and reliability.
South Korea is widely regarded as a technologically advanced and strategically important market with strong infrastructure, high levels of digitalisation, and strong industrial capabilities. At the same time, companies point to regulatory barriers and local compliance requirements as ongoing challenges.
Want to read a full overview of the survey results with detailed analysis? Download the report today.
ABOUT THE SURVEY
To assess the opportunities and challenges faced by Swedish companies in international markets, Team Sweden conducts annual Business Climate Surveys across multiple markets worldwide. This year’s survey in South Korea includes responses from 56 Swedish companies operating in the country. Industrial companies represent a significant share of respondents, while professional services and consumer companies also make up a considerable share. The majority of respondents have been active in South Korea for more than five years.
We would like to extend our sincere appreciation to all participating companies and respondents who contributed to this report. Team Sweden in South Korea hopes that the findings will serve as a basis for continued dialogue with Korean authorities and other relevant stakeholders.
